PBO Reveals True Cost of Labor's 'rent Forever' Plan

Labor’s rent forever policy is becoming very expensive as is Labor’s refusal to consider super for housing.

New PBO data shows taxpayers are now paying a heavy price for Labor’s busted housing policies.

The PBO found that if just 20% of 35-45 year olds used their super for a first home, there would be a significant fiscal dividend.

Almost $700 million would be saved in the forward estimates and $1.8 billion over 10 years.

The saving is driven by Australians owning their own homes with their own money and therefore not requiring Commonwealth rent assistance.

Labor’s housing policy is based around a “rent forever” model where super funds and foreign fund managers are encouraged to construct “build to rent” houses.

There is a bill before Parliament which is designed to do just that.

Labor’s obsession with institutional rather than an individual approach to home ownership is killing the Australian Dream and damaging the budget.

Super for housing is a practical idea which recognises that your home ownership status is the key determinant of a secure retirement.

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